Greenscape Capital Group Inc.
TSX VENTURE : GRN

Greenscape Capital Group Inc.

November 23, 2011 17:14 ET

Greenscape Issues Shares for Debt & Provides CapTherm Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 23, 2011) - Greenscape Capital Group Inc. ("Greenscape") (TSX VENTURE:GRN) announces that, subject to regulatory approval, it has reached an agreement for the settlement of debt in the aggregate amount of $28,345 owed to 3 creditors (one arms length party and two insiders) by way of the issuance of 188,967 common shares in the capital of Greenscape at a deemed price of $0.15 per common share.

All the common shares issued in this settlement of debt will be subject to a hold period expiring on March 24, 2012.

Greenscape is also pleased to announce that CapTherm Systems Inc. ("Captherm") has been very active since receiving its first investment tranche from Greenscape. Highlights include:

  • A partnership with Canada's National Research Council to support ongoing research and development of CapTherm's proprietary intellectual property;
  • Acquiring office, manufacturing and appropriate warehouse space to ensure continuing prototype development and facilities that support customer site visits are in place to support business plan timelines;
  • Ordering and planning for the acquisition of key industrial machinery to support rapid prototyping, a key element in CapTherm's competitive planning; and
  • Research and development on a new, higher-grade, thermal compound which will support CapTherm's core product line but also provide a shorter-term revenue stream.

Greenscape currently owns 12.6% of CapTherm following its initial tranche investment on September 28th, 2011 as more particularly described in our news release of September 29, 2011. Greenscape announced on September 29, 2011 that it intended to close its final tranche investment, for a total ownership interest in CapTherm of 40% of CapTherm's issued and outstanding share capital, by November 15, 2011. Pursuant to the terms and conditions of the Subscription Agreement, Greenscape is now negotiating with CapTherm on revised closing dates that reflect the current volatility of the public markets while still ensuring CapTherm is in a strong position to deliver on its business plan.

About Greenscape

Greenscape Capital Group increases environmental sustainability, social responsibility, and profitability of companies and their operations. Greenscape is focused on dramatically increasing the profitability of commercial facilities through enhanced energy efficiency and environmental best practices. When opportunities arise, Greenscape also invests in other companies that operate in the environmental space, providing strategic capital and business advisory services to assist companies in achieving their environmental and corporate goals.

ON BEHALF OF THE BOARD

Mark Devereux, CEO and Director

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding certain future events including the closing of its second tranche investment in CapTherm. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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